EurUsd: daily analysis for 19th of October

EurUsd found resistance on the weekly R2 pivot and now support on the weekly R1 level. In the zone also a daily S1 pivot and the 38.2% fib retrace of the last swing/move up on the 1h TF. There is also a completed HS formation .. not so pretty one, but still it is an HS.

From current price level @1.3060 supports:

  • 1.3015 50% fib
  • 1.3000
  • 1.2992
  • rising trend line

Resistance:

  • 1.3080 / some pips above a daily central pivot
  • 1.3100
  • 1.3115 / dividing level of price action between Wednesday and Thursday
  • 1.3140 / recent highs
  • 1.3050 / 38.2% fib retrace on a weekly scale
  • 1.3171 + falling weekly trend line

Staying below 1.3080 would keep my intraday bias bearish a 1h sustained break of this level would change it to bullish.

The trend on 1h/4h/daily is up but the price is in a nice possible reversal area.

daily / 4h and 1h chart below .. this time without arrows ;)

Best regards!

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